SE Kansas News

U.S. Senator Jerry Moran of Kansas has joined with fellow senators Steve Daines of Montana, Majority Leader John Thune of South Dakota, and 32 other Senate Republicans to introduce the Main Street Tax Certainty Act. This legislation aims to make permanent the 20 percent pass-through business tax deduction, which is set to expire at the end of 2025.

Senator Moran emphasized the importance of this measure for small businesses in Kansas, stating: "Kansas small businesses support rural and urban communities across the state. By making this small business tax break permanent, businesses across the nation will be able to remain open, retain hard-working employees and help the areas around them thrive."

Senator Daines shared his personal connection to small businesses, saying: "As the son of a contractor, I’ve seen firsthand the hard work it takes to keep a small business flourishing- especially as Americans are still grappling with the effects of Joe Biden’s inflation. It’s absolutely crucial that we pass this legislation to prevent a 20 percent tax increase for hardworking Montanans and I’ll keep fighting for ways to support Montana small businesses, which provide the majority of jobs in our state."

Majority Leader Thune highlighted the broader economic impact: "Small businesses are the economic engine that drive growth and jobs in South Dakota and across our country. This legislation is critical to permanently extending a key provision from the Tax Cuts and Jobs Act and ensuring our small businesses and farms and ranches are not hit with a crippling tax hike at the end of 2025."

The proposed bill is supported by Senators John Barrasso (R-Wyo.), Shelley Moore Capito (R-W.V.), James Lankford (R-Okla.), Joni Ernst (R-Iowa), Tom Cotton (R-Ark.), Tim Scott (R-S.C.), Chuck Grassley (R-Iowa), Kevin Cramer (R-N.D.), Marsha Blackburn (R-Tenn.), Mike Rounds (R-S.D.), Pete Ricketts (R-Neb.), Katie Britt (R-Ala.), Jim Risch (R-Idaho), Eric Schmitt (R-Mo.), Roger Wicker (R-Miss.), Cynthia Lummis (R-Wyo.), Cindy Hyde-Smith (R-Miss.), Tommy Tuberville (R-Ala.), Ted Cruz (R-Texas), John Hoeven (R-N.D.), Thom Tillis (R-N.C.), Roger Marshall (R-Kan.), Jim Justice (R-W.V.), Tim Sheehy (R-Mont.), Deb Fischer (R-Neb.), Bill Cassidy (R-La.), Ted Budd (R-N.C.), Rick Scott (R-Fla.), Bill Hagerty (R-Tenn.) Todd Young (R-Ind.) John Kennedy (R-La.) and Jim Banks (R-Ind.).

The 20 percent deduction was initially introduced as part of President Trump's 2017 tax cuts. Without action from Congress, it will expire at the end of 2025, potentially impacting nine out of ten small businesses with increased taxes.